News
Investcorp Affiliate to Acquire Durham Office Portfolio for $48.4M
by Adriana Pop, Associate Editor American Real Estate Partners of Herndon, Va. recently sold three class A office buildings at Keystone Park in Durham for $48.4 million. According to CityBizList Charlotte Raleigh, an affiliate of Investcorp of New York purchased the 285,874-square-foot portfolio at 430 Davis Drive, 530 Davis Drive and 630 Davis Drive. Paul […]
TODAY’S DEALS: Salmanson Capital Completes $15.2M Off-Campus Buy
Salmanson Capital buys 50 off-campus assets near Lehigh University; Beech Street provides $10.9 million for a Philadelphia portfolio refinance; and Alliant Capital closes two loans for borrower to pay off bank loan and capitalize equity.
Central and South America See Hospitality Sector Accelerate Activity, Continue Upward Trend
The Central and South American hospitality market is on the rise.
Beech Street Capital Closes $10.2 Million FHA Loan
Beech Street Capital LLC, a privately owned mortgage banking company, recently provided a $10.2 million HUD 232/223(f) loan to a 105-bed nursing facility in Parkersburg, W. Va.
IPA to Break Ground on Phoenix-Area Apartments
Investment Property Associates and the Rockefeller Group have formed a joint venture to develop a 402-unit apartment community at the northeast corner of Warner and Recker roads in Gilbert, a suburb of Phoenix.
Abu Dhabi Mixed-Use Development Completed
Leading Middle East luxury developer DAMAC Properties has announced completing its first Abu Dhabi development: the mixed-use luxury property Marina Bay.
Security Properties Buys Fourth Multifamily Complex in Metro Phoenix
Security Properties Inc. has acquired the 207-unit Lakeside Village in metro Phoenix. The company paid $16.4 million for the property, which was sold by Toronto-based Rose Lakeside Corp.
Marcus & Millichap Brokers Sale of Indiana Apartment Complex
Marcus & Millichap Real Estate Investment Services has closed the sale of The Reserve, a 158-unit apartment complex in Evansville, Ill., on behalf of the property’s seller, Indianapolis-based SC Bodner Company Inc.
Freddie Mac Announces First Floating Rate K Certificates Offering Backed by Multifamily Mortgages
Freddie Mac today announced its first offering of Structured Pass-Through Certificates (“K Certificates”) backed exclusively by LIBOR-based, floating rate multifamily mortgages with five- and seven-year terms.
MARKET SNAPSHOT: Weak Demand for Lower-Tier Product Leads to Stagnant Vacancies in Indianapolis
Although payrolls are gradually expanding following layoffs in May and June, the picture for multifamily in Indianapolis remains somewhat mixed.